WAR DEBT REVISION.

New Zealand Herald, Volume LXIX, Issue 21153, 9 April 1932, Page 12

WAR DEBT REVISION.

OPINION IN AMERICA. ECONOMISTS FAVOUR RELIEF. The question of war debts and reparations is still being earnestly discussed by' economists in the United States, according to Mr. C. Jauncey, formerly of Adelaide, who is returning to Australia by the Sonoma, which arrived at Auckland from Los Angeles yesterday. Mr. Jauncey has been residing in the United States [or 12 years and has been doing research work in economics at Harvard University, where ho holds the degree of Doctor of Economics. " Since the introduction of the Hoover moratorium last year, American economists have been slightly more in favour of a revision of war debts," Mr. Jauncey said. " The experts are certainly of the opinion that Great Britain is carrying far too heavy a burden and they realise that it would be to their own benefit if she could be relieved to some extent. However, the public generally cither cannot or will not regard the matter from the economists' viewpoint, and be::ore any successful move can be made toward h revision, this prejudice will have to be overcome. " Ono point which is receiving attention in the United States is tariff reform. Although American manufacturers have a huge internal market, which they naturally want safeguarded, the view is gradually gaining strength that only with more clastic trade and the abolition of tariff barriers can stable price levels be attained. High protective tariffs had more than a little to do with the difficulties which are now being encountered in the United States."